PepsiCo’s Brazilian unit is reportedly set to buy local biscuit manufacturer Mabel.

The O Estado de S. Paulo newspaper cited sources “close to the negotiations” that say PepsiCo paid as much as BRL900m (US$518.1m) for the company.

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Neither Pepsico or Mabel were immediately available for comment at time of writing.

According to Mabel’s website, it produces more than a hundred products including butter cookies, filled sandwich cookies, wafers and crackers across five industrial plants, supplying more than 35 countries.

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